South Korea and UK deal ahead of Brexit

Written by On Jun 10, 2019

South Korean trade ministry said on Monday that South Korea and UK have reached a deal of free trade ahead of the Brexit in late October.

The deal will help to minimize trade uncerainty maitaining the existing free trade agreement with the EU, reads the statement from the Ministry of Trade.

UK is set to exit the EU on October 31st, with or without a deal and South Korea will seek approval from its parliament to ratify the trade pact with Britain before that date.

South Korean exports to Britain amounted to $6.4 billion in 2018, about 1.05% of the total exports, according to Korea International Trade Association.

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